If 2023 wasn't the best year Apple could have, it looks like 2024 could follow this slow growth, as Foxconn, Cupertino's most important supplier, offered a conservative outlook for 2024. The leading iPhone maker predicts growth of revenue less than 5% amid intense geopolitical uncertainty.
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“If there are no political or macroelectronic changes, the markets will likely grow and we will see growth of around 5%,” Foxconn President Young Liu said in an earnings call on Tuesday. “But this growth will be easily offset by geopolitical dynamics.”
As the manufacturer also has Microsoft, Meta, Google and Amazon as clients, despite being Apple's largest supplier, the company is a good barometer of the technology industry. According to Nikkei AsiaFoxconn's president believes the growth momentum will come primarily from the company's server business, especially demand for cloud services and AI servers.
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Liu also says that global monetary policies and inflation could influence Foxconn's annual performance in 2024. Despite the uncertainty, Foxconn will continue to invest in improving its business, with the "largest share of investment spending" in China, followed by the USA, Vietnam and electric vehicle parts in Mexico.
Interestingly, Apple is expected to have a packed 2024 – even though most of its business doesn't have breakthrough sales. At the beginning of the year, Cupertino is expected to launch the Apple Vision Pro (note: this device is manufactured by Luxshare and not Foxconn). Still, the company could sell a few hundred thousand units in 2024.
Apple is also expected to update its entire iPad lineup, with the most exciting updates being an OLED iPad Pro and a larger 12.9-inch iPad Air. We also expect the company to reveal new MacBook, Mac mini and Mac Studio models.
Finally, by the end of the year, Apple will present the new iPhone 16 family and the new Apple Watch models. Right now, leakers say there won't be any major updates.
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If 2023 wasn't the best year Apple could have, it looks like 2024 could follow this slow growth, as Foxconn, Cupertino's most important supplier, offered a conservative outlook for 2024. The leading iPhone maker predicts growth of revenue less than 5% amid intense geopolitical uncertainty.
“If there are no political or macroelectronic changes, the markets will likely grow and we will see growth of around 5%,” Foxconn President Young Liu said in an earnings call on Tuesday. “But this growth will be easily offset by geopolitical dynamics.”
As the manufacturer also has Microsoft, Meta, Google and Amazon as clients, despite being Apple's largest supplier, the company is a good barometer of the technology industry. According to Nikkei AsiaFoxconn's president believes the growth momentum will come primarily from the company's server business, especially demand for cloud services and AI servers.
Liu also says that global monetary policies and inflation could influence Foxconn's annual performance in 2024. Despite the uncertainty, Foxconn will continue to invest in improving its business, with the "largest share of investment spending" in China, followed by the USA, Vietnam and electric vehicle parts in Mexico.
Interestingly, Apple is expected to have a packed 2024 – even though most of its business doesn't have breakthrough sales. At the beginning of the year, Cupertino is expected to launch the Apple Vision Pro (note: this device is manufactured by Luxshare and not Foxconn). Still, the company could sell a few hundred thousand units in 2024.
Apple is also expected to update its entire iPad lineup, with the most exciting updates being an OLED iPad Pro and a larger 12.9-inch iPad Air. We also expect the company to reveal new MacBook, Mac mini and Mac Studio models.
Finally, by the end of the year, Apple will present the new iPhone 16 family and the new Apple Watch models. Right now, leakers say there won't be any major updates.
